SYDNEY, Australia – Price Index™ review of global hotel prices for March 2011 has been revealed today.
Biggest Price Falls in March 2011 (Month-On-Month)
The biggest price fall for March (down 25.26%) and our pick as the top destination for value conscious travelers is Nuremberg, Germany. March to May is generally considered the best time to visit Nuremberg as the weather is quite pleasant. Based on historical data, prices are expected to rise in April, reaching a peak in May.
Prices will dip in Hanoi, Vietnam by 12.91% as the city approaches the end of its dry season. Travelers would be well advised to take advantage these savings while they last.
Both Macau, China (down 14.72%) and Krabi, Thailand (down 13.41%) will have seasonal drops in room rates. The falling prices are in-line with prices we normally see at this time of year for the two cities. For travelers that don’t mind the wet weather, this is an amazing deal.
Unrest in Egypt will drive room rates down by 13.60% in Cairo for the month of March. Although the country has begun to stabilize politically, we suspect there will be further decreases in tourism country-wide in coming months. We strongly suggest travelers consult their local government’s travel warnings before visiting Egypt.
Biggest Price Falls in March 2011 (Year-On-Year)
Not surprisingly, Cairo, Egypt will experience the biggest drop in average room rate year-on-year for March. The city will see prices fall 20.23% when compared to the same time last year. Again, we urge all travelers to consult travel warnings before visiting the region.
For a third month in a row, Hamburg, Germany is one of our biggest price drops year-on-year with average room rates falling 19.31%. This could be the lingering effect of the economic downturn as well as the impact of low cost carrier Ryanair cutting routes from Barcelona to Hamburg Lubeck Airport.
Other notable decreases in March are Warsaw, Poland (down 16.30%) Cebu City, Philippines (down 15.87%) and Phi Phi Island, Thailand (down 15.12%).
Biggest Price Rises in March 2011 (Year-On-Year)
The steepest hotel price rise year-on-year is seen in Rio de Janeiro, Brazil (up 48.75% to $203), with Rio Carnival happening from the 4th until 8th March this year. This euphoric event, also referred to as ‘sex and samba on a stick’, draws around a million people each year for its throbbing, four day festivities all over the place, from the streets, squares, bars and clubs to the Carnival Balls and culminating Samba Parade. Due to the limited supply, accommodation is booked up early (at least 3 or 4 months in advance) and at an ever-increasing rate.
Wales will take on Ireland at the Millennium Stadium in the penultimate round of matches in the 2011 Six Nations Championship. Rugby fans and travelers alike planning on visiting Cardiff, Wales should expect a hotel price rise around the match on March 12 (up 32.46% to $166).
The famous and spectacular Mardi Gras in New Orleans continues until Fat Tuesday on March 8. Drawing hundreds of thousands of revelers, hotels (especially in the French Quarter) are running at high occupancy and rates are up 28.62% to $156 with many requiring a minimum stay of four to five days.